He told reporters in the UK, where he is attending the G7 summit as an observer, that he would "rather be living in the arrangements we have in Australia than anywhere else in the world".
Mr Morrison said despite the high vaccination rates in the UK, which has led to fewer coronavirus hospitalisations, the country is still experiencing "very high numbers of cases".
"At this stage of the pandemic, it is not clear where it goes next ... the potential for new strains and other things to occur - it means there is still much we don't know," he said on Saturday (GMT).
Australia's suppression strategy has kept the nation's borders closed and seen states go into lockdown over a small number of COVID-19 cases.
Victoria is the most recent state to do so, with Melbourne emerging from a two-week lockdown on Friday.
Strict restrictions, including a ban on home gatherings, a 25km travel limit and mandatory masks indoors and outdoors, are likely to remain in place for at least a week.
While Mr Morrison said Australians weren't allowed to travel overseas, they can "go to sporting games, or they can go to work, they can live in an economy that is bigger today than it was before".
"In Australia, we've been in a position where we have been able to suppress the virus and keep it out. That sadly hasn't been able to be achieved here and across Europe and the United States and so their experience has been very very different," he said.
"We'll continue to take an Australian path on this which protects the lives and livelihoods and learn from the experiences of other countries."
Asked what percentage of Australians will need to be vaccinated before international travel can resume, Mr Morrision replied: "We haven't set any mark on that".
He added it would happen "when the medical advice suggests that we should".